SINGAPORE — Making the act of handing over one’s Singpass details a criminal offence is one possible way that the Government could strengthen the law to make it easier to catch money mules.
So what are the gaps in Singapore's laws now and how might these new legislative measures seek to close them? TODAY spoke to lawyers to find out.In Parliament, Ms Sun said that the"vast majority" of money mule investigations do not result in prosecution.
Mr Cory Wong, the director of Invictus Law Corporation, said that there have been instances where the transfer of criminal proceeds is done in an apparently legitimate manner under the guise of an employment contract or even love.This makes it difficult to prove that he or she knew or suspected that the money they helped to transfer was connected to criminal activity, Mr Wong added.
Mr Yeo of Kalco Law said that one difficulty in setting out a list of activities presumed to entail money laundering is ensuring that the list is broad enough to capture the most common scenarios involving money mules, but not so broad that it would inadvertently include people who are legitimately transacting online.
Instead, the law addresses false statements of fact that have been or are being communicated in Singapore through the internet.
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